Over Half Of Households In Ireland Have Debt

OVER HALF OF HOUSEHOLDS IN IRELAND HAVE DEBT

Over half of all households in the country, 57 per cent, have some sort of debt – with one third of households having a mortgage on their main residence.

The Central Statistics Office has published its figures on Household Finance and Consumption for 2013.

The figures aim to shed light on the financial habits of the nation.

Most households with a mortgage owe 129,000 euro on their home, while typically people owe 1,000 euro on their overdrafts and 1,400 on credit cards.

The debt burden is seen as heaviest for younger households – dropping sharply for older people, who traditionally pay their mortgages off.

70 per cent of households in Ireland own their own home.

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